Cryptocurrency

Coinbase acquires One River Digital Asset Management

Crypto Exchange Coinbase announced Acquired One River Digital Asset Management (ORDAM) on March 3.

Under Coinbase, ORDAM will transform into Coinbase Asset Management (CBAM) and operate as an independent subsidiary wholly owned by Coinbase. CBAM focuses on institutional consumers and provides “industry-leading products and services.”

According to the announcement, the two companies are joining to “build an innovative digital asset management infrastructure.” Coinbase said the two companies share a common passion for investor safety. The announcement said:

“Coinbase and ORDAM share a ethos rooted in prudent risk management, a trait that has allowed both companies to successfully navigate the recent market turmoil. are strongly aligned in pursuing digital asset opportunities, prioritizing uncompromising safety and integrity.”

Coinbase also added that Eric Peters, current CEO of ORDM, will continue to chair CBAM after the acquisition.

Prior to the acquisition, ORdam was a subsidiary of One River Asset Management, an investment manager registered with the US Securities and Exchange Commission (SEC). As a digital asset manager, ORDA focused on exposing digital assets to institutional investors by offering investment products. According to the announcement, ORDA is using Coinbase Prime to offer investment products to institutional investors.

Related Articles

Back to top button